Machinery Loan

Eligibility
For weavers and others to purchase of new / machineries / working capital loan against hypothecation of machinery.
Sanction Limit
i) 80% of the invoice value of the new machinery.
ii) 50% of the Machinery in case of the existing SSI units.
Repayment period
48 months or as fixed by the Board.
Repayment Installment
In monthly equal installments with interest.
Rate of Interest for wheelers
Upto 5 Lakhs – 13.50% p.a.
Above 5 Lakhs – 14.00%
Rate of interest for other
Upto 5 Lakhs – 14.50% p.a.
Above 5 Lakhs – 15.00%

Security
Mortgage of Machinery